Get your taxes done using TurboTax
You do indicate that you want to add a new asset.
You do not want depreciation on those assets.
In other words you must finish this section screen by screen until you come back to the screen to select Miscellaneous expense.
- Continue through the screens to enter these assets.
- Before you enter a new asset, you will be asked about the DeMinimis Safe Harbor qualifications.
- So do I in fact add new assets? Yes, you start the process, then TurboTax will stop before you actually enter it.
- I thought not.- This is correct.
Continue to the screen 'Want to take the safe harbor election this year for assets $2,500 or less?'
- Select Yes. Continue as TurboTax takes you back to the expense screen list. Then scroll to select Miscellaneous expenses > Enter Description and Amount.
